In the ongoing legal feud between Katherine Jackson and Michael Jackson’s estate, surprising details have nearly come to light. Despite Katherine’s objections (as well as Michael’s reported objections earlier to his passing), the estate went ahead with the sale of MJ’s music catalog to Sony for a staggering $600 million. This decision has sparked a bitter dispute and calls into question the estate’s authority to dispose of such a valuable asset.
As per to financial reports submitted by the estate’s executors, John Branca and John McClain, they paid over $1 million to Katherine Jackson as a “family allowance” in 2020.
Additionally, Katherine’s legal bills were covered by the estate, and she received $800,000 for renovations to her Calabasas mansion. The executors have emphasized their supposed role in generating substantial revenues and enhancing Michael Jackson’s persona and legacy.
It Is worth noting that in 2020, Michael’s daughter, Paris Jackson, got $300,000 to cover construction-related costs for her Hollywood home. This further highlights the financial intricacies the estate has been managing since the sudden death of the King of Pop.
The financial report opened that the estate had $656 million in property at the start of the reporting period, with $34 million in income generated and a total value of $760 million at the end. Over $35 million was disbursed during the exact year.
In spite of the soaring figures, the battle between Katherine Jackson and the estate continues. Katherine has appealed the court’s decision to approve the sale of the music catalog that Michael fought so hard to gain ownership of, and argues that the estate acted without proper authority.
As per to the executors, they’ve supposedly made significant strides in rebuilding and enhancing Michael Jackson’s image, solidifying his business as a major player in the entertainment industry. They have also settled many creditors’ claims and litigation, further stabilizing the estate’s position, so they claim.
As the court lawsuit unfolds, it remains uncertain how it will impact the distribution of MJ’s wealth and the legacy he left behind. The revelations of the financial report focused on the intricate inner workings of the estate and the ongoing struggles to honor Michael Jackson’s wishes.
This legal feud highlights the significance of protecting the legacies of iconic artists and the delicate balance between financial considerations and respecting their final wishes. As Katherine Jackson continues her fight, the world watches on, awaiting the outcome that will shape the future of Michael Jackson’s estate and the music industry as a whole.
However, it’s hard watching this whole stuff play out, because as well know, Michael would have NEVER approved the sale of his music catalog — it’s one of the reasons he worked tirelessly back in the day to gain control of it. Hopefully, Mama Katherine and her son’s estate can reach a mutual common ground– one that will ultimately honor Michael’s wishes, as opposed to honoring the dollar.
